MIRA
INFORM REPORT
|
Report Date : |
31.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHABRIDGE ELECTRONICS LTD. |
|
|
|
|
Registered Office : |
Room 1801, 18/F., Great Eagle Centre, 23 Harbour Road, Wanchai |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
23.09.1993 |
|
|
|
|
Com. Reg. No.: |
17405134 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Manufacturer, Importer and Exporter of IPOD accessory, MP3 player, USB flash driver, MPEG4 player, PHS phone, etc. |
|
|
|
|
No. of Employees : |
10. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Exist |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name and address
CHABRIDGE ELECTRONICS
LTD.
ADDRESS: Room 1801, 18/F., Great
Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong.
PHONE: 2512 2077
FAX: 2512 2067
E-MAIL: chan@chabridge.com.hk
MANAGEMENT
Managing Director: Ms. Lee Chuan
SUMMARY
Incorporated on: 23rd September,
1993.
Organization: Private
Limited Company.
Capital: Nominal: HK$40,000,000.00
Issued: HK$37,168,770.00
Business Category: Manufacturer, Importer and Exporter.
Employees:
10.
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 1801, 18/F., Great Eagle Centre, 23 Harbour Road, Wanchai, Hong
Kong.
Holding Company:-
Chabridge Technology Pte. Ltd., Singapore.
Associated Companies:-
Shenzhen Chabridge Electronics Co. Ltd., China.
Shenzhen Newchabridge Communication Co. Ltd., China.
BUSINESS REGISTRATION NUMBER
17405134
COMPANY FILE NUMBER
0449979
MANAGEMENT
Managing Director: Ms. Lee Chuan
CAPITAL
Nominal Share Capital: HK$40,000,000.00 (Divided into 40,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$37,168,770.00
SHAREHOLDER
(As per registry dated 23-09-2011)
|
Name |
|
No. of shares |
|
Chabridge Technology Pte. Ltd. 65, Chulia Street, OCBC Centre, #34-07, Singapore. |
|
37,168,770 ======== |
DIRECTORS
(As per registry dated 23-09-2011)
|
Name (Nationality) |
Address |
|
LEE Chuan |
6/F., Block H2, Beverly Hill, Happy Valley, Hong Kong. |
|
YANG Hui, Helen |
Room 1801, 18/F., Great Eagle Centre, 23 Harbour Road, Wanchai, Hong
Kong. |
SECRETARY
(As per registry dated 23-09-2011)
|
Name |
Address |
Co. No. |
|
Good Reach Secretaries Ltd. |
Room 2101, 21/F., Kai Yue Commercial Building, 2C Argyle Street,
Kowloon, Hong Kong. |
0429129 |
HISTORY
The subject was incorporated on 23rd September, 1993 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Manufacturer,
Importer and Exporter.
Lines: IPOD
accessory, MP3 player, USB flash driver, MPEG4 player, PHS phone, etc.
Employees: 10.
Materials/Commodities: Imports raw materials from European countries,
some of the Asian countries and finished products from China.
Markets: Australia,
North America, Southeast Asia, Western Europe, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$40,000,000.00 (Divided into 40,000,000
shares of HK$1.00 each)
Issued Share Capital: HK$37,168,770.00
Indebtedness: HK$2,746,063.65 (Total amount outstanding on all mortgages
and charges as per last Annual Return dated 23-09-2011)
Mortgage or Charge:-
Date of Second Mortgage: 29-09-2000
Amount: General banking facilities
Property: 383/100,000th parts or shares of and
in Inland Lot No. 8392 (Office 1 on 18/F. of Great Eagle Centre, 23 Harbour
Road, Hong Kong.)
Mortgagee: Citibank N.A., Hong Kong Branch.
Profit or Loss: Making a small profit every year.
Condition: Keeping
in a satisfactory manner.
Facilities:
Making active
use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
Bank of China (Hong Kong) Ltd.,
Hong Kong.
Citibank N.A., Hong Kong Branch.
Standing:
Normal.
GENERAL
Chabridge Electronics Ltd. is a wholly-owned subsidiary of Chabridge
Technology Pte. Ltd. which is a Singapore-based firm.
The subject is a mobile phone trader.
It is a hi-tech company with rich experience in research, production,
sales and service in the communication field.
The subject’s main products are personal digital and communication
devices, some of them are: MP3 players, US flash drivers, MPEG4, PHS phone,
etc.
The subject has got associated factories in Shenzhen Special Economic
Zone known as Shenzhen Chabridge Electronics Co. Ltd. [Shenzhen Chabridge] and
Shenzhen Newchabridge Communication Co. Ltd. [Newchabridge].
Shenzhen Chabridge is an ISO-9001 certified company, with a 150,000
sq.ft. research and production area in Shenzhen SEZ, China. The factory has been equipped with three
high-speed SMT, eleven assembly lines and has set up a packing workshop and a
laboratory. The production capacity is
about 10,000 units daily. Shenzhen
Chabridge’s ID and MD designing team are able to develop two new models every
month.
Newchabridge was established in August 2003. In October 2007, Newchabridge became one of
the important enterprises in the field of domestic mobile communication, and
was among China Top 100 Communication Enterprises. Newchabridge is specialized in the R&D,
production and marketing of mobile phones of GSM, CDMA, 3G (TD‑CDMA,
WCDMA, CDMA2000) and PHS, as well as new flat display parts and LCD. It also provides clients with ODM services.
Newchabridge is one of Shenzhen High-tech Enterprises and a member of
Shenzhen High-tech Industry Council. It
got approval for GSM mobile phone manufacture and sales from National
Development and Reform Commission [NDRC] in September 2007. Since then, Newchabridge’s mobile phone has
penetrated into the China market bearing its own brand “NCBC”. Now, Newchabridge mobile phone has developed
the markets in all provinces all over China mainland, and meanwhile, overseas
markets such as Europe, North America and Southeast Asia, etc. are developed as
well.
Newchabridge has its own industrial park, Newchabridge Industrial Park,
which is located in Baolong Industrial City, Longgang District, Shenzhen SEZ,
China occupying an area of almost 100,000 sq.m.
Having a production capacity of over 10 million mobile phones annually,
Newchabridge has become one of the important R&D, production and export
bases for communication and digital products in mainland China.
The subject has registered with the Office of the Telecommunications
Authority [OFTA], The Government of Hong Kong SAR, the People’s Republic of
China as a Radio Dealer (Unrestricted) Licensee. The subject bears the licence No. of
RU00077645-RU (7764).
In order to penetrate the international market further, the subject has
taken part in fairs and exhibitions held in Hong Kong and other foreign large
cities. For instance, it is going to
take part in “Hong Kong Electronics Fair 2012 (Spring Edition)” which will be
held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during
the period of 13th to 16th April, 2012.
The subject operates from its own office which is located at its
registered address.
As the history of the subject is about eighteen years and three months
in Hong Kong, on the whole, consider it good for normal business
engagements.
REMARKS
Court case record:-
|
Action Date |
Case No. |
Plaintiff |
Defendant |
Cause |
Amount |
|
Dec. 2001 |
H5238 |
Hitachi Asia (Hong Kong) Ltd. |
Chabridge Electronics Ltd. |
Order |
Not stated |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.26 |
|
|
1 |
Rs.82.10 |
|
Euro |
1 |
Rs.68.90 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.